Micron Technology, Inc. (NASDAQ:MU) Stock Position Decreased by Melqart Asset Management UK Ltd

Melqart Asset Management UK Ltd decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 51.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,520 shares of the semiconductor manufacturer's stock after selling 80,696 shares during the period. Micron Technology comprises 0.8% of Melqart Asset Management UK Ltd's investment portfolio, making the stock its 29th biggest position. Melqart Asset Management UK Ltd's holdings in Micron Technology were worth $6,356,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Beacon Capital Management LLC lifted its holdings in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after buying an additional 200 shares during the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Micron Technology in the fourth quarter valued at approximately $33,000. Activest Wealth Management increased its stake in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock valued at $34,000 after buying an additional 350 shares during the period. Comprehensive Financial Planning Inc. PA purchased a new position in Micron Technology during the fourth quarter worth about $34,000. Finally, Curio Wealth LLC purchased a new position in shares of Micron Technology during the 4th quarter worth approximately $34,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MU has been the subject of several recent analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $130.00 price objective on shares of Micron Technology in a research note on Friday, March 21st. JPMorgan Chase & Co. dropped their price target on Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. Royal Bank of Canada set a $125.00 price objective on shares of Micron Technology in a research note on Wednesday, March 19th. Citigroup cut their target price on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Wells Fargo & Company reiterated an "equal weight" rating on shares of Micron Technology in a research report on Monday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and a consensus price target of $127.04.

Micron Technology Trading Down 2.1 %

Shares of MU stock traded down $1.68 during mid-day trading on Tuesday, reaching $76.88. The company's stock had a trading volume of 16,953,664 shares, compared to its average volume of 23,267,117. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $85.92 billion, a PE ratio of 22.16 and a beta of 1.18. The company's 50 day simple moving average is $85.19 and its 200-day simple moving average is $94.62. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the company posted $0.42 earnings per share. The firm's revenue was up 38.2% compared to the same quarter last year. On average, research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.60%. Micron Technology's dividend payout ratio is currently 11.03%.

Insider Transactions at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now owns 27,358 shares in the company, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares of the company's stock, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

Micron Technology Profile

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.